🔮🔮Analysis $SOL /USDT – technical outlook (short term)🔮#
The movement of $SOL continues to be clearly bearish. On the daily chart, the price keeps making lower highs and lower lows and remains below all relevant moving averages (MA7, MA25, and MA99), indicating that there is no sign of reversal at the moment, only a continuation of the trend.
The loss of the region of $SOL 110–115, which acted as support and coincided with moving averages, was an important point. After this breakdown, the market did not react and continued to be pressured, which usually indicates a search for lower supports.
According to the Fibonacci of the macro movement, the region of 75–80 appears as a very clear technical target, close to the 0.236 level, which is often tested in stronger corrective movements within downtrends. Before that, there is a possible intermediate reaction in the range of 85, but so far there is no technical signal confirming this bottom.
The indicators also do not show relevant divergence:
• RSI and KDJ continue pointing downwards
• There is no strong capitulation candle
• Volume increases in down movements, which reinforces selling pressure
This suggests that the market has not yet found a bottom.
My reading is that:
• As long as it is below 110, the bias remains negative
• 80–85 is the main zone to observe for possible reaction
• A movement down to 75 would not be an exaggeration if the market accelerates, especially if BTC loses support
Summary:
I still do not see a technical signal of reversal. The chart continues to look like a continuation of the decline, and the next relevant supports are much lower than the current price.
The movement of $SOL continues to be clearly bearish. On the daily chart, the price keeps making lower highs and lower lows and remains below all relevant moving averages (MA7, MA25, and MA99), indicating that there is no sign of reversal at the moment, only a continuation of the trend.
The loss of the region of $SOL 110–115, which acted as support and coincided with moving averages, was an important point. After this breakdown, the market did not react and continued to be pressured, which usually indicates a search for lower supports.
According to the Fibonacci of the macro movement, the region of 75–80 appears as a very clear technical target, close to the 0.236 level, which is often tested in stronger corrective movements within downtrends. Before that, there is a possible intermediate reaction in the range of 85, but so far there is no technical signal confirming this bottom.
The indicators also do not show relevant divergence:
• RSI and KDJ continue pointing downwards
• There is no strong capitulation candle
• Volume increases in down movements, which reinforces selling pressure
This suggests that the market has not yet found a bottom.
My reading is that:
• As long as it is below 110, the bias remains negative
• 80–85 is the main zone to observe for possible reaction
• A movement down to 75 would not be an exaggeration if the market accelerates, especially if BTC loses support
Summary:
I still do not see a technical signal of reversal. The chart continues to look like a continuation of the decline, and the next relevant supports are much lower than the current price.